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Manufacturing operations management (MOM) is an all-encompassing solution for managing all areas of the manufacturing process. It assists manufacturers with informed decision-making, successful planning, and quality control.
Manufacturing operations management (MOM) software marketregarded as an evolution of manufacturing execution systems (MES), includes all manufacturing processes, such as quality management, advanced planning and scheduling, R&D management, inventory management, and production capacity analysis.
Food and beverage, chemicals, medical equipment and pharmaceuticals, and other industries are experiencing an increase in demand for high-quality products and solutions. This is projected to put significant strain on industrial facilities, reducing production effectiveness. Manufacturers and businesses are working on preserving high-quality standards, adequate flexibility, sustainability, and efficiency, at this substantial pace of expansion. Furthermore, given the current circumstances, industries must act in accordance with regulatory reforms.
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As a result, effective management of industrial processes will provide considerable benefits to organizations. The increasing use of manufacturing operations management (MOM) software is raising production line efficiency in manufacturing businesses. The introduction of manufacturing operations management (MOM) software has fostered transparency in every unit, from engineers to management, and as a result, relevant data about the product’s quality is given. This is projected to increase product visibility and eliminate manual processes, which will increase the demand for manufacturing operations management (MOM) software during the forecast period.
All of the aforementioned reasons contribute to increased operational effectiveness, which is expected to fuel the growth of the global manufacturing operations management (MOM) software market during the forecast period.
The global manufacturing operations management (MOM) software market is anticipated to reach USD 39.53 billion by the end of 2031, advancing at a CAGR of 10.30% from 2022 to 2031 (forecast period).
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Advanced ERP and MES Solutions in Smart Manufacturing to Present Growth Prospects
The increasing adoption of ERP systems in smart factories and the need for improved MES present enormous growth prospects for companies in the global manufacturing operations management (MOM) software market. In order to acquire comprehensive insight throughout manufacturing processes, advanced solutions for smart manufacturing are picking up steam. Moreover, the rapid adoption of robotic process automation (RPA) in the manufacturing industry is projected to provide revenue-generation opportunities in manufacturing operations management (MOM) software market during the forecast period.
Use of SCADA Systems for Inventory Management to Boost Market Expansion
Customers benefit from the incorporation of manufacturing operations management (MOM) software with manufacturing execution systems (MES). The growing trend of industrial automation in manufacturing output and operations management systems is encouraging the use of modern industrial control systems. Moreover, the rising use of SCADA (supervisory control and data acquisition) systems has created enormous opportunities for solution providers in the global manufacturing operations management (MOM) software market.
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North America to Lead Worldwide Market
North America is set to lead the global manufacturing operations management (MOM) software market during the forecast period. Substantial investment in technological improvement in the manufacturing sector by prominent MOM software providers and governments is boosting the manufacturing operations management (MOM) software market in North America. Moreover, manufacturing operations management (MOM) software is widely used in software development by industries to enable quick access to real-time analytics, customer information, operation monitoring, and internal manufacturing processes.
Furthermore, the Asia Pacific manufacturing operations management (MOM) software market is anticipated to expand over the projected period, owing to the growth of lean production methods such as total quality management (TQM) and total productive maintenance (TPM). Additionally, organizations in Japan, China, Singapore, and India are stressing the adoption of ERP systems, smart manufacturing machines, and assembly lines to allow processes to function without interruption and attain operational efficiencies.
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